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Financial Sanctions: Iran (Nuclear Proliferation)

Thursday, 28 November 2013

This news release is issued in respect of the restrictive measures directed by the Council of the European Union against Iran.

Following the publication of Council Implementing Regulation (EU) No 1203/2013 in the Official Journal of the European Union, the Council of the European Union has amended Annex IX to Council Regulation (EU) No 267/2012 (“the 2012 Regulation”), with effect from 27 November 2013.

Sixteen entities have been relisted in Annex IX and continue to be subject to the asset freeze imposed by the 2012 Regulation. The identifying information for one entity has also been changed.

Three entities have been removed from Annex IX to the 2012 Regulation and are therefore no longer subject to the restrictive measures imposed by the 2012 Regulation.  One of the entities now removed from Annex IX, Iran Transfo, was no longer subject to restrictive measures as of 29 July 2013 and was removed from the consolidated list issued by HM Treasury on that date.

Details of the 16 entities relisted in Annex IX, the 3 entities removed from Annex IX and the changes to the identifying information for 1 entity in Annex IX can be found in the downloadable document.

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated individual and entities.  If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services.  They must report their findings to theSanctions Officerat the Customs and Excise Division of the Treasury. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated individual and entities they are not required to report these details again.

Further details of the sanctions regime related to Iran and links to the Consolidated List of individual and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

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